Data is the most important element of today’s information-driven businesses. The better decision-makers understand their staff’s requirements, industry developments, and client expectations. Also, it can more strategically plan future growth. This need has fuelled massive development in decentralized cloud storage.
StorX aspires to be a decentralized cloud storage leader. Convenient enterprise-grade storage options like Google Drive are combined with solid open source technologies. It wants to democratize the monopolized cloud service industry. Its technology allows consumers to rent storage from individual farms rather than a centralized service provider. Moreover, it is an open-source initiative.
StorX node is for you if you want to put your empty disc space to work, contribute to the future of cloud storage, and be paid. Anyone may run a node on the network and earn SRX tokens. The network integrates Google Drive with dependable open source technologies. It also promotes good performers and removes bad performers. It uses an AI system to assess node reputation.
The User, The Star, and The Satellites are the three core parts of StorX Ecosystems. The SRX token is a payment currency on the StorX platform. The user hosting data must pay in SRX, and the farmer hosting node will receive it in SRX.
The primary role is to help the network as storage node operators establish storage supplies. The inclusion of nodes in the network and their reputation is based on node reputation.
StorX relies on a scalable and robust node reputation system. The sophisticated StorX AI system quantifies the Node’s stability and performance. The system employs reputation measurements to exclude adversaries from the network, enhancing security, dependability, and durability.
Network Node Inclusion
The network offers a unique procedure for adding additional nodes. When a storage node enters the network, its reputation is set to 0. Whenever someone uploads a new file to the StorX network, the Satellite adds unvetted nodes to the target list while maintaining file durability. Satellite is a sequence of machine learning methods that improve payload distribution on a node.
Unvetted nodes must present proof-of-work to store data. After vetting, the Node is selected for broad upload. A node’s reputation rises over time as it stores data and produces proof-of-work for it.
The standard storage nodes are chosen based on throughput, latency, dependability, uptime history, and geographic location. As part of the load-balancing process, all uploads are forwarded to qualified nodes, with a preference for recommended nodes but a possibility for any qualified node. The system monitors the Node’s activity. Its reputation score grows over time if it gives download statistics, passes audits, and maintains uptime.
Rewards, Penalties, and Node Reputation
Node reputation is used to determine a node wallet’s reward eligibility. The StorX Governance team has a good reputation. The mark refers to the Node’s reputation as an active network member eligible for $SRX incentives. The StorX Governance team may alter this barrier to accommodate the growing network. Penalties for low-reputation nodes are in the amount of $SRX tokens. AI automatically deducts token staking/reward penalties. The whole procedure is kept within the smart contract for community accountability.
The StorX Ecosystem functions flawlessly when Storage Node operators maintain Good Node Reputation. Nodes that perform poorly may be disqualified, resulting in no “hosting and staking incentives”. Staked SRX may be burnt as a punishment if it repeatedly harms StorX Storage Network.
Reasons Backing Good Node Reputation:
- Provide a solid cloud Infrastructure
- $SRX Stake increases “Good” Node Reputation
- Ensure 100% uptime
- Always keep nodes updated with the newest patches and OS updates.
Causes for a Node’s Poor Reputation:
- Incorrect node configuration, such as not accessible on the specified port.
- Node response time
- Low traffic on primary app
- If you correctly configure the Node, it will be considered for storage, and its reputation will rise.
Maintaining a Good Reputation
A robust node satisfies all of the readme’s criteria. Its reputation will grow as it stays active in the network. Because a node’s reputation is based on its contribution to the network, greater network activity means a higher reputation. Node owners (farmers) are asked to distribute and utilize the StorX App as much as possible to build a reputation. Access the farmer dashboard to verify repute. The team is working on a dedicated dashboard to show the Node’s data.
One of the other plus points, StorX is always open for input and ideas to improve the farm node’s reputation-based reward and punishment mechanism. They consider recommendations seriously as it will help establish a better and more simplified node reputation environment.
To summarize and conclude, in simple terms, on the StorX mainnet, SRX is a utility token that drives the StorX data storage marketplace. Operators need to set up Node and earn SRX. Also, save data and pay using SRX. Node operators need to maintain Good Node Reputation to ensure StorX Ecosystem works perfectly and operators earn through the Node and its reputation.